Part 1: PlaySpent
Go to the Play Spent website and play through the simulation at least once.Part 2: Develop a Budget and Living Wage estimation
Using the resources handed out in class and sent out via email (and/or any others you might find on your own, but cite these sources) complete your budget making worksheet (available here). While you work through your budget keep in mind the following:Your budget must be realistic and legal. For instance it is neither realistic nor legal for a couple with a baby to live in a studio apartment (this would exceed maximum occupancy laws). The further away from San Diego proper that you chose to locate your home, the more your commute budget will be. Today it is neither legal nor advisable for someone to be uninsured. Keep these sorts of realities in mind while constructing your budget, and remember this is a living wage, not a subsistence wage nor a preferred wage.
If you want assistance decided about "savings" you can check out this link:
http://www.bankrate.com/calculators/retirement/ira-savings-calculator.aspx
Additional rental rates here :
http://www.apartmentratings.com/rate/CA-San-Diego-Pricing.html
Additional information on Childcare:
http://blog.thebump.com/2012/09/04/average-child-care-costs-in-each-state-wheres-yours-on-this-list/
Some facts to think about…
- In 2012, 49.0 million Americans lived in food insecure households, 33.1 million adults and 15.9 million children. Reference here
- The National Poverty Level threshold in 2011 for a Family of 4 was $22,350
- The Average cost of having your appendix removed without insurance is $9,931 – does not include emergency room visit
- Average cost of emergency room visit with no test or scans for a minor problem is $769 - $1423
- Average cost of emergency room visit if life threatening (not counting surgery or overnight stay in hospital), includes imaging tests $9,931
Part 3: Compare your estimated living wage to the one developed by the folks over at MIT
Bring your Budget and Estimated Living Wage worksheet to class with you on Wednesday (10/29)
Additional Resources for Budget Creation:
Healthcare cost - you may use this calculator to find out how much it might cost your imaginary family to have insurance through the Affordable Care act:http://www.npr.org/blogs/health/2013/09/30/226456791/how-much-will-obamacare-cost-me-try-our-calculator